Start a Business You Are Passionate and Knowledgeable About - Sravanthi Nallagoni and Nihal Bandi




1. Tell us more about your company and your journey. 

I am Sravanthi Nallagoni, 24 years old and I am pursuing the Business Management course in Rome, Italy. Me, along with my partner Nihal Bandi, who is pursuing his Master's in Europe, started the online shopping store and named it THE WARDROBE PICKS. 

We not only sell clothes online but also the accessories, home needs, etc. It's more like One Stop Shop. Since childhood, we've been dreaming of starting up my own business. This COVID-19 pandemic made us very proud Entrepreneurs at a very young age. 


2. How did you come up with this idea and go about executing it? 

We happened to come back to India due to COVID-19 and we were continuously searching for some of the other work just to keep ourselves busy being at home during the lockdown.

One fine day, we came across the online shopping business idea and we planned everything and we were all set to start the online shopping page. Now here we are, the founders of THE WARDROBE PICKS (Online Shopping Store on Instagram). 

We also launched our official website thewardrobepicks.co.in recently. 


3. What has been your biggest challenge that you faced and how did you overcome that? 

The biggest challenge that I've faced was 'Mastering My own Mind' and I also want to share how I overcame this challenge. Many of us don't know that our mind can be a formidable opponent on your path to becoming a better person.

It can pipe up with all kinds of negative commentary when things are not going well and can have the power to derail you with doubt and fear – if you let it. Mastering your mind is one of the greatest life challenges of all. 

Your mind controls your perspective, it informs how you receive and process your interactions with the world around you. Unlike other things you can claim mastery over after a finite amount of time, the mind can take some a lifetime to master.

The challenge is showing up willing to do the work of mastering the mind every day while having complete awareness of the infinite nature of this work. 

Where ever you go, there you are; thus it’s impossible to hide from yourself. If your mind is unruly and unkind, then it will be hard for you to become a better person, primarily because you are not being better to yourself. 

Luckily, there is a myriad of ways to begin the work of mastering your mind. The key is to create space for you to be with yourself in a healthy way that promotes growth.

Some common methods to facilitate focused personal time are therapy, meditation, self-reflection, prayer, intentional silence, journaling, and being out in nature. 


4. What do you think are the most important qualities of a successful entrepreneur? 


Are there certain qualities that all successful entrepreneurs share? I say Yes! 

The most important qualities of a successful entrepreneur include: 

• PASSION 

This is the most significant characteristic that every entrepreneur has, and for obvious reasons. They are successful because they love what they do. These entrepreneurs put all the extra hours they have into the business to make it successful and flourish.

It is a pleasure for them to see the results of their labor, which goes well beyond the money received.
  
People like this are always researching and reading things to find strategies in how they can make their business better. 

• DETERMINATION 

The successful entrepreneurs are never greatly impacted by the defeats they encounter. For them, failure is like an opening for a success story, and hence, they try again and again just till they get the success they are expecting.

Moreover, these entrepreneurs are not wired to believe that some things are not possible and cannot be done. 

• CONFIDENCE 

A successful entrepreneur never asks the question or keeps doubts in their mind about if they can succeed or if they are even worthy of success. They are normally confident enough that their knowledge and their know-how will help them make their business idea a success. 

And they radiate this confidence in everything that they do for the business. 

• RISK-TAKING ABILITY 

Entrepreneurship is all about taking risks. Entrepreneurs have the ability to take greater risks to achieve greater success, but not all risk-takers are successful entrepreneurs. 

A successful entrepreneur knows when to take risks and which risks will be beneficial or harmful to the company or himself. 

All entrepreneurs plan before taking risks and make a plan B (in case of any loss or mishap) and establish a suitable ground for the results of the risks. 

5. What are some of the most important factors for running a successful business? 

The most critical and most important key success factors that can make an entrepreneur become a successful entrepreneur are: 

• TO HAVE ENOUGH EXPERIENCE: Sometimes the experience is in a category not so required as a factor, but it is something that will increase your business potential energy. As an entrepreneur, you must employ all present and previous experience you have in the business that you are building. 

• THE ABILITY FOR TEAMWORK: Nobody can achieve anything alone so, this is also true for you as an entrepreneur. You are not a “Superman.” As an entrepreneur, you must be a team player for your own and your business success. 

• RISK TAKING, BUT CALCULATED RISK: This is indeed one of the most critical questions: Are entrepreneurs taking enough risk? Yes, each business startup is at some level risky. 

However, more important is how a successful entrepreneur takes a risk? The word calculated risk is the most appropriate word for this characteristic. You need to use risk management principles if you want to succeed. 

• SELF-CONFIDENCE: This a significant and key success factor for entrepreneurs. I think that nobody will become an entrepreneur if he doesn’t have self-confidence in himself, primarily related to start and manage his own business.

6. What are your tips for the first time and aspiring entrepreneurs? 

• Failing To Plan Is Planning To Fail.

This line carries a strong message for all first-time entrepreneurs. I know you started your venture by trusting your instincts, but without a plan, you will fail miserably.

Worse- you will move forward without an aim.

• Start a business you are passionate and knowledgeable about.

• Ask for advice from other entrepreneurs.

• Pick a business idea that has a big market opportunity.


7. How can one overcome a hurdle of lack of funds when starting up? 

Funding is among the most common financial problems that most startups face. Learn how you can overcome this hurdle to push your business forward. 

There are many many ways to overcome the Startup Funding Challenges. I would like to share one great tip for future entrepreneurs. 

• Consider Working with a Business Partner! 

Yes. The idea of working with a business partner is always good. You’ve got the business idea while somebody else has got the money, so you join hands and implement your plan. You pull your funds together, and you overcome the funding challenge. 

However, the process of selecting a business partner isn’t easy. You need to find someone who understands your business goals and is willing to fit in. You should agree to a joint direction to avoid bringing your business down.

Remember to include a buyout clause in your agreement since you can’t predict what the future will bring.

ALL THE BEST TO FUTURE ENTREPRENEURS! 


Sravanthi Nallagoni and Nihal Bandi

Entrepreneurs
https://thewardrobepicks.co.in/

Interviewed By - Sandeep Virothu



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